London Array, a joint venture owned by DONG Energy (50%), E.ON (30%) and Masdar (20%), has signed an agreement with Blue Transmission London Array Ltd. for the sale of transmission assets at the world's largest offshore wind farm.

The 630 MW London Array Offshore Wind Farm is located about 20 km off the coasts of Kent and Essex in the U.K. and comprises 175 Siemens 3.6 MW turbines.

The divestment takes place pursuant to the Offshore Transmission Owner (OFTO) regime. Following a competitive tender, Blue Transmission London Array Ltd. was selected by Ofgem in September 2012 as the preferred bidder for the London Array offshore transmission license.

With an asset value of about $730 million for the entire transmission assets, this is the largest transaction to date in the OFTO regime, according to London Array. The divestment is expected to close later this month.